17 Amendments of Dan JØRGENSEN related to 2011/0202(COD)
Amendment 204 #
Proposal for a regulation
Recital 76
Recital 76
(76) Apart from short-term liquidity needs, credit institutions and investment firms should also adopt funding structures that are stable at a longer term horizon. In December 2010, the BCBS agreed that the NSFR will move to a minimum standard by 1 January 2018 and that the BCBS will put in place rigorous reporting processes to monitor the ratio during a transition period and will continue to review the implications of these standards for financial markets, credit extension and economic growth, addressing unintended consequences as necessary. The BCBS thus agreed that the NSFR will be subject to an observation period and will include a review clause. In this context, EBA should, based on reporting required by this Regulation, evaluate how a stable funding requirement should be designed. Based on this evaluation, the Commission should report to Council and European Parliament together with any appropriate proposals in order to introducedecide whether such a requirement should be introduced by 2018.
Amendment 210 #
Proposal for a regulation
Recital 85
Recital 85
(85) The power to adopt acts in accordance with Article 290 of the TFEU should also be delegated to the Commission in respect of prescribing a temporary reduction in the level of own funds or risk weights specified under that Regulation in order to take account of specific circumstances; to clarify the exemption of certain exposures from the application of provisions of that Regulation on large exposures; to specify amounts relevant to the calculation of capital requirements for the trading book to take account of developments in the economic and monetary field; to adjust the categories of investment firms eligible for certain derogations to required levels of own funds to take account of developments on financial markets; to clarify the requirement that investment firms hold own funds equivalent to one quarter of their fixed overheads of the preceding year to ensure uniform application of this Regulation; to determine the elements of own funds from which deductions of an institution's holdings of the instruments of relevant entities should be made; to introduce additional transitional provisions relating to the treatment of actuarial gains and losses in measuring defined benefit pension liabilities of institutions; and to temporarily increase in the level of own funds; and to specify liquidity requirements.
Amendment 218 #
Proposal for a regulation
Recital 89
Recital 89
(89) The Commission should adopt the draft regulatory technical standards developed by EBA in the areas of cooperative societies or similar institutions, certain own funds instruments, prudential adjustments, deductions from own funds, additional own funds instruments, minority interests, services ancillary to banking, the treatment of credit risk adjustment, probability of default, loss given default, corporate Governance, approaches to risk- weighting of assets, convergence of supervisory practices, liquidity, and transitional arrangements for own funds, by means of delegated acts pursuant to Article 290 TFEU and in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level.
Amendment 1027 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point a
Article 404 – paragraph 3 – subparagraph 1 – point a
(a) they are not issued by the institution itself or its parent or subsidiary institutions or another subsidiary of its parent institutions or parent financial holding company; This does not apply to assets referred to in (i) and (ii) in paragraph 2, point (a), which are traded on an ongoing basis in the secondary market;
Amendment 1036 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point c
Article 404 – paragraph 3 – subparagraph 1 – point c
(c) their price is generally agreed upon by market participants and can easily be observed in the market, or their price can be determined by a formula that is easy to calculate based on publicly available inputs and does not depend on strong assumptions as is typically the case for structured or exotic products;
Amendment 1043 #
Proposal for a regulation
Article 404 – paragraph 3 – subparagraph 1 – point e
Article 404 – paragraph 3 – subparagraph 1 – point e
(e) they are tradable on active outright sale or repurchase agreement markets with a large and diverse number of market participants, a high trading volume, and market breadth and depth. These criteria should be interpreted separately for each market;
Amendment 1192 #
Proposal for a regulation
Article 413 – paragraph 1
Article 413 – paragraph 1
1. Institutions shall report their capped liquidity inflows. Capped liquidity inflows shall be the liquidity inflows limited to 75% of liquidity outflows. Institutions may exempt liquidity inflows from deposits placed with other institutions and qualifying for the treatments set out in Article 108(6) or Article 108(7) from this limit. Institutions may exempt liquidity inflows from monies due from borrowers and bond investors related to mortgage lending funded by bonds eligible for the treatment set out in Article 124(3), (4) or (5) or as defined in Article 52(4) of Directive 2009/65/EC from this limit.
Amendment 1204 #
Proposal for a regulation
Article 413 – paragraph 2 – point a
Article 413 – paragraph 2 – point a
(a) monies due from customers that are not financial customers for the purposes of principal repayment shall be reduced by 50% of their value or by the contractual commitments to those customers to extend funding, whichever is higher. This does not apply to monies due from secured lending and capital market driven transactions as defined in Article 188 that are collateralised by liquid assets according to Article 404 and monies due from mortgage lending funded by bonds eligible for the treatment set out in Article 124(3), (4) or (5) or as defined in Article 52(4) of Directive 2009/65/EC;
Amendment 1243 #
Proposal for a regulation
Article 414 – paragraph 1 – point b – point ix
Article 414 – paragraph 1 – point b – point ix
(ix) liabilities resulting from securities issued qualifying for the treatment in Article 124 or as defined in Article 52(4) of Directive 2009/65/;
Amendment 1259 #
Proposal for a regulation
Article 415 – paragraph 1 – point g a (new)
Article 415 – paragraph 1 – point g a (new)
(g a) and separately those: v) collateralised by commercial real estate (CRE); (vi) collateralised by residential real estate (RRE); (vii) match funded (pass-through) via bond eligible for the treatment set out in Article 124 or as defined in Article 52(4) of Directive 2009/65/EC;
Amendment 1386 #
Proposal for a regulation
Article 444
Article 444
Amendment 1501 #
Proposal for a regulation
Article 478 – paragraph 1
Article 478 – paragraph 1
The Commission shall, by 31 December 2015 and after consulting the EBA, report to the Parliament and the Council, together with any appropriate proposals, whether the risk weights laid down in Article 124 and the own funds requirements for specific risk in Article 325(5) are adequate for all the instruments that qualify for these treatments and whether the criteria in Article 124 should be made stare appropricater.
Amendment 1543 #
Proposal for a regulation
Article 481 – paragraph 2 a (new)
Article 481 – paragraph 2 a (new)
2 a. The Commission shall submit a legislative proposal to the European Parliament and Council to specify in detail the general requirement set out in Article 401. Such legislative proposal shall be based on the items to be reported according to Part Six, Title II. The legislative proposal shall also specify under which circumstances competent authorities have to impose specific in- and outflow levels on credit institutions in order to capture specific risks to which they are exposed.
Amendment 1544 #
Proposal for a regulation
Article 481 – paragraph 2 b (new)
Article 481 – paragraph 2 b (new)
2 b. For the purposes of paragraph 3 the Commission shall either individually or cumulatively assess whether a liquidity coverage requirement would have a detrimental impact on the business and risk profile of European institutions or on financial markets or the economy and shall take into account the reports referred to in paragraphs 1 and 2.
Amendment 1545 #
Proposal for a regulation
Article 481 – paragraph 2 c (new)
Article 481 – paragraph 2 c (new)
2 c. The Commission shall submit the proposal referred to in paragraph 3 at the latest by 31 December 2014.
Amendment 1549 #
Proposal for a regulation
Article 481 – paragraph 3 – subparagraph 1
Article 481 – paragraph 3 – subparagraph 1
By 31 December 2015, EBA shall report to the Commission on whether and how it would be appropriate to ensure that institutions use stable sources of funding, including an assessment of the impact on the business and risk profile of Union institutions, including non-deposit taking institutions, or on financial markets or the economy and bank lending, with a particular focus on lending to small and medium enterprises and on trade financing, including lending under official export credit insurance schemes, and match funded mortgage lending.
Amendment 1556 #
Proposal for a regulation
Article 481 – paragraph 3 – subparagraph 2 a (new)
Article 481 – paragraph 3 – subparagraph 2 a (new)
The reports referred to in paragraph 1, 2 and 6 shall be open for public consultation in all Member States before submitted to the Commission.